Mca Primary School, Massesebeh Group
These teachers, like many of their counterparts in Magburaka and other parts of the country, have applied for a loan from SMT/Kiva in order to invest in something meaningful. And gradually, out of their monthly salaries, their school bursar repays SMT on a monthly basis on behalf of the teachers.
As teachers’ salaries are usually small in Sierra Leone, needless to say that SMT/Kiva loans are of a great importance to these teachers. Some of them will use this loan to either purchase a piece of land in order to build a house, or complete a house building project they have started. Some will use theirs to buy pieces of furniture, like a bed, chairs etc. Some will use theirs to pay school fees either for themselves pursue further studies or for their children. While others will use theirs to invest in businesses in order to supplement their meager monthly salaries.
Abdul K. (back row second from left) is the head master at the school. Abdul is 47 years of age. He was born in Yoni village, about 40 miles from Massesebeh village. He is married to a businesswoman and they have four children. One of their children is in Senior Secondary School III (SSS III), the other in Junior Secondary School III (JSS III), one in class six and the other in class one. Mr. K. has been a teacher for twenty-three years now. With this loan, he will invest it in business. He sells items like cigarette, sugar, soaps and so on.
About Salone Microfinance Trust (SMT)Salone Microfinance Trust (SMT) is Kiva’s oldest field partner in Sierra Leone. SMT began operations in 2002 as a microcredit program of the NGO Child Fund Sierra Leone under a USAID program to assist the reintegration of ex combatants back into their communities. Today, SMT offers group, agricultural, individual and salary loans to micro-entrepreneurs through six branches and one sub-branch in rural, urban, and peri-urban areas. By providing small loans and other financial services, SMT empowers poor clients to generate more income to help their families, improve their wellbeing, and create a more vibrant private small-business sector in Sierra Leone.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid